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We’re going to roll 111 Put up to 115 Put.
We’ve collected enough credit to invert this strangle and still leave a NET credit in this trade.
Order Ticket Type Asset Duration Strike C/P Sell To Open SMH 26APR 19 115 PUT Buy To Close SMH 26APR 19 111 PUT Total Credit: 0.56 Our short call delta reached 45 and we’re going to make an adjustment.
We’re rolling 104 Put up to 113 Put, collecting additional credit.
Order Ticket Type Asset Duration Strike C/P Sell To Open SMH 17MAY 19 113 PUT Buy To Close SMH 17MAY 19 104 PUT Total Credit: 1.10 We’re going to book this trade at 65% of max profit in 8 days.
Order Ticket Type Asset Duration Strike C/P Buy To Close AAPL 26APR 19 195 PUT Total Debit: 0.65 PANW at 241.19
We’re looking to put on a bullish position with 23 days until expiration.
235 is going to be an important level for this stock to hold.
We’re going to make adjustments IF/WHEN our short strike’s delta turns 40-45.
Our potential profit target is 50-80% of the credit collected.
Order Ticket Type Asset Duration Strike C/P Sell To Open PANW 10MAY 19 230 PUT Total Credit: 2.70 – 2.80 SPX at 2902
We’re going to sell another round of Bull Put spreads to bring in additional credit.
This will also reduce overall NET delta exposure.
Order Ticket Type Asset Duration Strike C/P Sell To Open SPX 17MAY 19 2800 PUT Buy To Open SPX 17MAY 19 2790 PUT Total Credit: 1.00 XBI at 84.23
Our short Put’s delta is 40 and we’re going to roll down our short Call.
We’re going to roll the call down to 25 delta.
This adjustment will cut overall NET delta by 50%, increase Theta by 40% and reduce overall risk.
Order Ticket Type Asset Duration Strike C/P Buy To Close XBI 17MAY 19 95 CALL Sell To Open XBI 17MAY 19 90 CALL Total Credit: 0.75 – 0.80 TSLA at 273.08
We’re going to close out 250/305 STRANGLE at 45% of max profit, leaving original short 250 Put open.
The remaining put expires next week.
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 26APR 19 305 CALL Buy To Close TSLA 26APR 19 250 PUT Total Debit: 5.90 We’re going to close this trade with 4 days to expiration.
Order Ticket Type Asset Duration Strike C/P Buy To Close SMH 26APR 19 111 CALL Buy To Close SMH 26APR 19 115 PUT Total Debit: 7.05 NFLX at 372.58
Netflix has been trading in a pretty narrow range and looks to be ready to move (higher in my opinion).
Based on that opinion I am looking to sell a put with POP around 80%.
I will adjust this trade IF/WHEN this Put’s delta reaches 40-45.
We’ll go 18 days to expiration, so this trade is going to be fairly sensitive to price changes.
Order Ticket Type Asset Duration Strike C/P Sell To Open NFLX 10MAY 19 350 PUT Total Credit: 2.50 We’re going to close this trade out for a loss
Buy To Close Bear Call spread:
Order Ticket Type Asset Duration Strike C/P Sell To Close SPX 26APR 2930 CALL Buy To Close SPX 26APR 2920 CALL Total Debit: 5.50 Sell To Close Hedge 1
Order Ticket Type Asset Duration Strike C/P Sell To Close SPX 30APR 19 2925 CALL Total Credit: 15.75 Sell To Close Hedge 2
Order Ticket Type Asset Duration Strike C/P Sell To Close SPX 30APR 19 2935 CALL Total Credit: 10.65 TSLA is going to announce earnings tomorrow (Apr 24)
We’re going to cover our position to avoid this event.
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 26APR 19 250 PUT Total Debit: 5.75 We’re going to book this trade at 90% of max profit.
Most of this gain is due to premium collapse after Boeing announced earnings.
Order Ticket Type Asset Duration Strike C/P Buy To Close BA 03MAY 19 350 PUT Total Debit: 0.30 ADBE at 276.03
We’re going to put on a directionally bullish trade with only 15 days until expiration.
We’re selling an OTM put around 30 delta.
Our goal is to capture 50-80% of credit and we’ll make adjustments if this put’s delta reaches 45
Order Ticket Type Asset Duration Strike C/P Sell To Open ADBE 10MAY 19 270 PUT Total Credit: 2.50 – 2.60 TSLA at 250.90
We’re going to put on a directionally bullish trade with only 8 days until expiration.
We’re looking to collect 50-80% of credit and will roll the trade IF/WHEN our short option reaches delta 50
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 03MAY 19 240 PUT Total Credit: 3.50 PANW at 243.32
We’re going to exit this trade at around 60% of max profit
Order Ticket Type Asset Duration Strike C/P Buy To Close PANW 10MAY 19 230 PUT Total Debit: 1.20
